SUMMARY INCENTIVE PLAN

Exhibit 10(v)

BANK OF AMERICA CORPORATION
SUMMARY OF CORPORATE MANAGEMENT INCENTIVE PLAN


I. Objective of the Plan
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The purposes of this plan is to retain key management of the
Corporation and to motivate them to increase shareholders' wealth.

II. Participants
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Participants are approved by the Management Compensation Committee.
Participants whose employment is terminated (either by Bank of America
or the participant) prior to the receipt of payment will not be
eligible to receive the award. This rule does not apply in cases
related to death, retirement or disability.

III. Determination of the Annual Fund
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Funding will be based on a target incentive award and the achievement
of goals or objectives as determined at the beginning of the year.
Preliminary funding of the pool will be based primarily on the
Corporation's achievement of its financial goals such as EPS growth,
Revenue growth, SVA.

. If the Corporation achieves a minimum performance level, the
funding level will be adjusted accordingly. If this minimum level
of performance is not achieved, a pool will not be funded.

. Upon achievement of the target performance level, a pool will be
funded based on the targeted incentive award for all participants
in the plan.

. The pool funding for achievement above target performance will be
determined by the Management Compensation Committee.

The pool as determined above may be adjusted up or down based on the
Corporation's financial performance and achievement of goals or
objectives as determined by the Management Compensation Committee.

IV. Funding Allocation/Award Determination
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Participants will be evaluated on the achievement of specific
performance goals. The Management Compensation Committee has the
authority to:

A. Determine the award amount, if any, to eligible participants based
on guidelines or rules deemed appropriate.

B. Allocate among the eligible participants all or any portion of the
pool funded.

C. Reduce or eliminate awards based on a less than acceptable level of
performance.

V. Plan Year
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The plan year shall be from January 1 to December 31.